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Article: PS Business Parks, Inc. Announces Proposed Offering of Common Stock.
- Article from:
- Investment Weekly News
- Article date:
- August 29, 2009
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PS Business Parks, Inc. (NYSE:PSB) announced that it plans to sell 2,500,000 shares of its common stock in an underwritten public offering. The company also plans to grant the underwriters an option to purchase up to an additional 375,000 shares of common stock to cover over-allotments, if any. All of the shares will be offered by PS Business Parks and will be issued pursuant to PS Business Parks' currently effective shelf registration statement filed with the Securities and Exchange Commission.
In connection with the offering, Public Storage has agreed separately to purchase 277,778 shares and, if the underwriters exercise the over-allotment option in full, an ...